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20121201
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. >> thank you very much. miss moore recognized for five minutes. >> thank you so much, mr. chairman. i just want to pursue the line of questioning mr. neugebauer venter into because it seems to me that you are suggesting that futures are transparent, they're well-regulated and we all know that swaps were not. and now that this new swaps future market is developing, i'm wondering if you are concerned about the regulatory arbitrage of the, only about 50% of margin being required? they're being treated as equivalence, don't you think, don't you think, margin may be just one of the regulatory gaps that exist. wondering what your thoughts are on that? >> one of the innovations in the market in the last few months has been this product, future on a swap. so it's a future, that trades on a futures exchange and it's cleared and its's transparent. but yes, we're taking a look at it to better understand it. it's a new product. if i can call you chairman as well. the chairman said, we're, the market should innovate that we're not deciding future swaps or futures on swaps but we're certainly taking a l
time is up spent i thank the gentleman from new york. and 42 minutes. ms. moore is recognized for two minutes. >> thank you so much, chairman garrett and ranking member waters. i just want to lobby the sec nctc for the extraordinary work that both agencies have done to this point. it's a herculean task when you consider a point that ranking member waters has driven into the ground, and that is that you're not adequately funded to do the work that we've asked you to do on such a short timeframe. i am concerned about a couple things today that have already been mentioned, and i look forward to hearing from the regulators, the rulemaking process, particularly on h.r. 4235, which is to build and i authored, which removes the requirement that they be indemnified prior to sharing the data with other regulars, including foreign regulars. that sec has testified to the committee that it favors removal of indian education requirements to the sec commissioners have opined on this, and yet the cftc interim guidance on and unification is something that is not being, it raises grave concern among o
from alaska good up, beverly moore, 81-year-old korean war navy veteran. beverly was there because the majority of her modest income comes from social security. she wanted to know how this proposal will strengthen that lifeline for her and thousands of alaskans. in fact, one in nine alaskans receive social security. with my state's population of those 65 and older expanding rapidly, social security will continue to play a key role in supplementing a decent living. if social security was not there for the elderly in alaska, a fifth of them would live below poverty. it's vital for our state. it's vital for all our states and for this whole country. mr. president, i have no illusions that this bill is not going to pass in the final weeks of the 112th congress, but i wanted to get it into the mix, i wanted to make sure that people get the bigger point, and again i would say to my presiding officer -- and he says as well and i know my friend here from oregon is on the floor also. as we talk about the deficit, it has taken center stage right now, we want to highlight one very clear thing
would your benefits cut by moore thank a quarter. -- by more than a quarter. unless we act, this is not a self-correcting problem. now, there are other things that we need do around social security such as raising the cap on the a income that's taxed. but those who say putting off questions about social security or medicare to some other day refuse to also recognize the reality that none of this self-corrects and that the sooner we start down the path on reform, the sooner that we can make sure the promise of these programs will last. but again, instead of worrying about the potential of a 25% cut for folks who are 46 years old in social security, they talk about the fact that, yes, that there may be some slight cutback in immediate benefits. not, though, 25%, not 3%, not 1%, but .3% decrease in the amount of increase each year. and even with that, there are ways, if we use this tool, to make it more fair and balanced. because we must make sure that we protect the most vulnerable in our society. i was part of a group -- and, again, the presiding officer, i believe, was supp
Search Results 0 to 3 of about 4